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The Fox Business Network, is an upcoming United States -based Cable and Satellite News channel. It is owned by Rupert Murdoch 's News Corporation . The network's initial audience is expected to be above 30 million people when the network launches on October 15 th, 2007 . It is a spin-off from Fox News Channel . Fox chairman Rupert Murdoch confirmed the launch at his Keynote Address at the 2007 McGraw-Hill Media Summit on February 8 , 2007. Day-to-day operations will be run by Kevin Magee , executive vice president of Fox News ; Neil Cavuto will manage content and business news coverage. The channel will also broadcast worldwide including Australia .http://www.theaustralian.news.com.au/story/0,20867,21383179-7582,00.html Murdoch has publicly stated that if the purchase of the , 2007 , the parent company, News Corp., announced that the new channel will be called Fox Business Network (FBN) http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&Date=20070711&ID=7152992]. This is because the official business name of the Fox Television Network is ''Fox Broadcasting Company'', and they already utilize the FBC initials http://www.mediabistro.com/tvnewser/fox_biz/fbn_is_a_better_abbreviation_than_fbc__63227.asp. paid up to "several million dollars" in order to ensure that CNBC and Fox Business would be separated on the dial, and in order to retain CNBC's "premium" channel slot. http://www.multichannel.com/article/CA6475668.html However, it is important to note that FBN will only be available on cable in New York under Time Warner Cable; it will be on TWC's digital platform for all other markets. http://www.broadcastingcable.com/article/CA6476801.html CNBC VS. FOX BUSINESS Although few specifics have been made public as to the type of programming approach Fox Business plans to take, some details have emerged as to how it plans to differentiate itself from its main competitor, CNBC .
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